The Intelligent Building Automation Technologies by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Intelligent Building Automation Technologies, The intelligent building automation technologies market size has grown strongly in recent years. It will grow from $88.05 billion in 2023 to $94.55 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to early adoption and awareness, regulatory compliance, cost reduction and efficiency gains, resilience and adaptability, energy efficiency goals.
The intelligent building automation technologies market size is expected to see strong growth in the next few years. It will grow to $133.26 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to maturing technology ecosystem, customization and flexibility, data security and privacy, human-centric design, decentralized energy systems, . Major trends in the forecast period include digital transformation, globalization and supply chain complexity, shift to smart manufacturing, customer-centric design.
Increasing energy-efficient projects are expected to propel the growth of the intelligent building automation technologies market going forward. Energy-efficient projects refer to a structure that maximizes resource efficiency while maintaining comfortable living conditions within the home with the least amount of energy possible. Intelligent building automation solutions help energy-efficient projects by reducing energy consumption by 10% to 25%, making the buildings highly energy efficient. For instance, according to Energy Star, a voluntary U.S. Environmental Protection Agency (EPA) program, in 2021, more than 6,100 commercial buildings earned the Energy Star, saving nearly $1.5 billion and preventing more than 4.6 million metric tons of greenhouse gas emissions. Therefore, increasing energy-efficient projects are driving the intelligent building automation technologies market growth.
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The intelligent building automation technologies market covered in this report is segmented –
1) By Type: Hardware, Software, Service
2) By Communication Technology: Wired Technology, Wireless Technology
3) By Application: Residential, Commercial, Industrial
Product innovation is the key trend gaining popularity in the intelligent building automation technology market. Major companies operating in the intelligent building automation technology market are focused on developing advanced technologies to sustain their position in the market. For instance, in November 2023, PassiveLogic Inc. a US-based company that specializes in intelligent building automation technologies launched a generative autonomy platform. The generative autonomy platform transforms building control systems from basic, programmable controls to fully intelligent, autonomous ones. The platform can be utilized for new construction or retrofitting and is scalable from coffee shops to skyscrapers. Autonomous systems that are versatile enough to be used in a wide range of disciplines by both novices and specialists are made possible by generative autonomy. The platform offers a comprehensive autonomous building platform that surpasses expectations with a fraction of the work and is intended to enable users to design their own autonomous systems .
The intelligent building automation technologies market report table of contents includes:
- Executive Summary
- Intelligent Building Automation Technologies Market Characteristics
- Intelligent Building Automation Technologies Market Trends And Strategies
- Intelligent Building Automation Technologies Market – Macro Economic Scenario
- Global Intelligent Building Automation Technologies Market Size and Growth
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- Global Intelligent Building Automation Technologies Market Competitive Benchmarking
- Global Intelligent Building Automation Technologies Market Competitive Dashboard
- Key Mergers And Acquisitions In The Intelligent Building Automation Technologies Market
- Intelligent Building Automation Technologies Market Future Outlook and Potential Analysis
- Appendix
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